Aspire Growth Partners LLC Acquires Shares of 2,343 The Allstate Co. (NYSE:ALL)

Aspire Growth Partners LLC bought a new stake in shares of The Allstate Co. (NYSE:ALL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 2,343 shares of the insurance provider's stock, valued at approximately $452,000.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Allstate in the 4th quarter valued at approximately $344,354,000. GQG Partners LLC grew its stake in shares of Allstate by 64.1% in the 4th quarter. GQG Partners LLC now owns 4,316,516 shares of the insurance provider's stock valued at $832,181,000 after buying an additional 1,685,694 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Allstate by 15,062.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,119,129 shares of the insurance provider's stock worth $215,757,000 after buying an additional 1,111,748 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new position in Allstate in the 4th quarter worth $143,165,000. Finally, Northern Trust Corp boosted its position in shares of Allstate by 15.8% in the fourth quarter. Northern Trust Corp now owns 3,496,017 shares of the insurance provider's stock valued at $673,997,000 after acquiring an additional 477,221 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Allstate news, CFO Jesse E. Merten sold 40,102 shares of Allstate stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total value of $7,480,226.06. Following the completion of the sale, the chief financial officer now owns 18,115 shares of the company's stock, valued at approximately $3,378,990.95. This trade represents a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company's stock.

Allstate Stock Performance

Shares of ALL stock traded up $2.17 on Tuesday, hitting $202.42. 1,119,869 shares of the stock were exchanged, compared to its average volume of 1,617,543. The firm has a market capitalization of $53.67 billion, a PE ratio of 11.91, a P/E/G ratio of 1.01 and a beta of 0.32. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm's 50 day moving average is $198.73 and its two-hundred day moving average is $194.90. The Allstate Co. has a one year low of $156.66 and a one year high of $212.91.

Allstate (NYSE:ALL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The insurance provider reported $3.53 earnings per share for the quarter, missing analysts' consensus estimates of $3.98 by ($0.45). The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a return on equity of 28.20% and a net margin of 7.28%. Allstate's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.13 earnings per share. Sell-side analysts expect that The Allstate Co. will post 18.74 earnings per share for the current fiscal year.

Allstate declared that its board has authorized a share buyback program on Wednesday, February 26th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.00 dividend. This is a positive change from Allstate's previous quarterly dividend of $0.92. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, March 10th. Allstate's dividend payout ratio (DPR) is currently 27.32%.

Analyst Upgrades and Downgrades

ALL has been the topic of several analyst reports. Evercore ISI upped their price objective on Allstate from $227.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Argus raised Allstate from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Wells Fargo & Company decreased their price objective on shares of Allstate from $200.00 to $197.00 and set an "equal weight" rating on the stock in a research note on Tuesday. StockNews.com upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Barclays dropped their price target on Allstate from $183.00 to $172.00 and set an "underweight" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $224.73.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.